Victory Capital Management Inc. Raises Stock Position in Academy Sports and Outdoors, Inc. (NASDAQ:ASO)

Victory Capital Management Inc. lifted its holdings in Academy Sports and Outdoors, Inc. (NASDAQ:ASO) by 16.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 45,094 shares of the company’s stock after acquiring an additional 6,469 shares during the period. Victory Capital Management Inc.’s holdings in Academy Sports and Outdoors were worth $2,401,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in ASO. TD Asset Management Inc boosted its position in shares of Academy Sports and Outdoors by 49.7% during the second quarter. TD Asset Management Inc now owns 59,000 shares of the company’s stock worth $3,142,000 after acquiring an additional 19,600 shares during the last quarter. Hodges Capital Management Inc. grew its position in shares of Academy Sports and Outdoors by 21.2% during the second quarter. Hodges Capital Management Inc. now owns 202,448 shares of the company’s stock valued at $10,780,000 after purchasing an additional 35,377 shares in the last quarter. Mesirow Institutional Investment Management Inc. increased its holdings in shares of Academy Sports and Outdoors by 16.0% in the second quarter. Mesirow Institutional Investment Management Inc. now owns 170,622 shares of the company’s stock worth $9,086,000 after purchasing an additional 23,543 shares during the last quarter. Rhumbline Advisers lifted its position in shares of Academy Sports and Outdoors by 5.3% in the second quarter. Rhumbline Advisers now owns 228,031 shares of the company’s stock worth $12,143,000 after buying an additional 11,578 shares in the last quarter. Finally, Natixis Advisors LLC grew its holdings in Academy Sports and Outdoors by 3.7% during the 2nd quarter. Natixis Advisors LLC now owns 162,943 shares of the company’s stock valued at $8,677,000 after buying an additional 5,856 shares in the last quarter.

Academy Sports and Outdoors Stock Performance

ASO stock opened at $61.05 on Wednesday. Academy Sports and Outdoors, Inc. has a twelve month low of $42.83 and a twelve month high of $75.73. The firm has a market cap of $4.40 billion, a price-to-earnings ratio of 9.33, a PEG ratio of 0.94 and a beta of 1.34. The business’s fifty day simple moving average is $53.91 and its two-hundred day simple moving average is $57.25. The company has a quick ratio of 0.41, a current ratio of 1.66 and a debt-to-equity ratio of 0.25.

Academy Sports and Outdoors (NASDAQ:ASO) last posted its quarterly earnings results on Tuesday, September 10th. The company reported $2.03 EPS for the quarter, topping analysts’ consensus estimates of $1.96 by $0.07. The firm had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.57 billion. Academy Sports and Outdoors had a net margin of 7.98% and a return on equity of 25.56%. The business’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same period in the prior year, the business posted $2.01 earnings per share. Analysts predict that Academy Sports and Outdoors, Inc. will post 6.25 earnings per share for the current year.

Academy Sports and Outdoors Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 17th. Investors of record on Thursday, September 19th will be issued a $0.11 dividend. The ex-dividend date of this dividend is Thursday, September 19th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.72%. Academy Sports and Outdoors’s payout ratio is 6.73%.

Analysts Set New Price Targets

A number of research firms recently weighed in on ASO. Robert W. Baird cut their target price on shares of Academy Sports and Outdoors from $80.00 to $68.00 and set an “outperform” rating for the company in a report on Wednesday, June 12th. Morgan Stanley restated an “equal weight” rating and set a $60.00 target price on shares of Academy Sports and Outdoors in a research report on Wednesday, September 11th. Bank of America downgraded shares of Academy Sports and Outdoors from a “buy” rating to a “neutral” rating and lowered their price target for the company from $75.00 to $63.00 in a report on Tuesday, June 11th. JPMorgan Chase & Co. cut Academy Sports and Outdoors from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $76.00 to $53.00 in a research note on Monday, August 5th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and issued a $65.00 price objective on shares of Academy Sports and Outdoors in a research note on Thursday, September 5th. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $62.86.

Insider Buying and Selling

In other Academy Sports and Outdoors news, Director Jeffrey C. Tweedy sold 625 shares of Academy Sports and Outdoors stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $54.25, for a total transaction of $33,906.25. Following the completion of the sale, the director now directly owns 10,106 shares of the company’s stock, valued at approximately $548,250.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 2.19% of the stock is owned by insiders.

Academy Sports and Outdoors Company Profile

Academy Sports and Outdoors, Inc, through its subsidiaries, operates as a sporting goods and outdoor recreational retailer in the United States. The company outdoor division comprises camping products, such as coolers and drinkware, and camping accessories and equipment,; fishing products, including marine equipment and fishing rods, reels, and baits and equipment; and hunting products, which includes firearms, ammunition, archery and archery equipment, camouflage apparel, waders, shooting accessories, gun safes, optics, airguns, and hunting equipment.